South Carolina General Assembly
106th Session, 1985-1986

Bill 1331

                    Current Status

Bill Number:               1331
Ratification Number:       587
Act Number:                584
Introducing Body:          Senate
Subject:                   Authorize the Secretary of State to
                           restore the charter of Smith Timber, Inc., and
                           Hardeeville Business Development Corporation,
                           and the directors of a corporation bearing
                           Corporate Charter No. 18122 shall act as
                           liquidating trustees of such corporation
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A584, R587, S1331)

AN ACT TO AUTHORIZE THE SECRETARY OF STATE TO RESTORE THE CHARTER OF SMITH TIMBER, INC., AND HARDEEVILLE BUSINESS DEVELOPMENT CORPORATION, AND THE DIRECTORS OF A CORPORATION BEARING CORPORATE CHARTER NO. 18122 SHALL ACT AS LIQUIDATING TRUSTEES OF SUCH CORPORATION.

Be it enacted by the General Assembly of the State of South Carolina:

Charter restored

SECTION 1. Authority is granted to the Secretary of State to restore the charter of Smith Timber, Inc., upon payment to the South Carolina Tax Commission of such taxes, penalties, and interest found to be due. The Secretary of State shall note the reinstatement upon the record of the original charter.

Liquidation of corporation

SECTION 2. Corporate charter number 18122 in the Secretary of State's Office is revoked effective March 8, 1983. The directors of this corporation, as of March 8, 1983, shall act as the liquidating trustees of the corporation in the same manner as the directors of a dissolved corporation act as its liquidating trustees in the manner provided by law.

Charter restored

SECTION 3. Authority is granted to the Secretary of State to restore the charter of Hardeeville Business Development Corporation upon payment to the South Carolina Tax Commission of such taxes, penalties, and interest found to be due. The Secretary of State shall note the reinstatement upon the record of the original charter.

Time effective

SECTION 4. This act shall take effect upon approval by the Governor.